Financial Independence and Legit Side Money Ideas For Techies and Geeks

Legit Side Money Ideas for Techies and Geeks

This blog is about Clever Questions, Answers, Posts, discussions, links about:

Making money isn’t that big of a deal especially if a person is determined, The primary cause of poverty is ignorance and nothing else.

It stars with a burning desire to learn and your willingness to practice all you’ve learned and make the mistakes needed in other to get the a greater height, “that is how financial progression is achieved and sustained.”

2022 AWS Cloud Practitioner Exam Preparation

in the aspect of making money online with a laptop, you can try out the following listed below….

  1. Affiliate Marketing.
  2. Selling on Amazon, eBay, Etsy, and Craigslist.
  3. Blogging.
  4. Niche E-commerce.
  5. Your Own YouTube Channel.
  6. Selling E-books.
  7. Develop Apps.
  8. Invest/trade cryptocurrency.

To be a master and be really successful in any of the listed, one has to first learn them before anything else goes.

And if you’re interested in cryptocurrency but too Busy and don’t have to time to learn, you can contact me I’ll teach you how a newbie trader can make profit in crypto quickly.

Legit Side Money Ideas on Quora

  • My 5 Streams of Income While Working Full-Time in My Early 20s
    by Claudiu (Passive Income on Medium) on June 26, 2022 at 8:22 am

    A couple of years ago, I was making $36,000 a year as an accountant at a small business. That’s what I graduated college with. But now, in…Continue reading on Medium »

  • 7 Ways to Earn $10,000 in Passive Income
    by Claudiu (Passive Income on Medium) on June 26, 2022 at 8:03 am

    Everyone is obsessed with earning passive income. Passive income is the holy grail of money-making, right? You can earn money while you…Continue reading on Medium »

  • 10 Passive Income Ideas: How I Make $11,000/Week
    by Claudiu (Passive Income on Medium) on June 26, 2022 at 7:48 am

    Passive income is the holy grail of making money, and the internet has made it easier than ever to earn a passive income.Continue reading on Medium »

  • Passive Income Ideas: 10 Ways to Make $11,000/Week With Little Or No Effort.
    by Claudiu (Passive Income on Medium) on June 26, 2022 at 7:38 am

    Making money online is not as easy as it used to be, but there are still many ways to make money through passive income.Continue reading on Medium »

  • 10 Passive Income Ideas: How I Make $11,000/Week
    by Claudiu (Passive Income on Medium) on June 26, 2022 at 7:14 am

    Not many people know about the world of passive income, but once you get started, it can be incredibly rewarding. In this post, we’ll go…Continue reading on Medium »

  • Passive Income Ideas: The 10 Best Ways To Make Money While You Sleep
    by Claudiu (Passive Income on Medium) on June 26, 2022 at 6:51 am

    I’m going to let you in on a little secret: I make money while I sleep.Continue reading on Medium »

  • How Matt Par makes over $100,000 each year from many faceless YouTube channels
    by The chai sip (Passive Income on Medium) on June 26, 2022 at 6:51 am

    How many times have you thought of making a YouTube channel and backed off? I mean what’s the reason for backing off? Creating lots of…Continue reading on Medium »

  • How Matt Par makes over $100,000 each year from many faceless YouTube channels
    by The chai sip (Money Making Ideas on Medium) on June 26, 2022 at 6:51 am

    How many times have you thought of making a YouTube channel and backed off? I mean what’s the reason for backing off? Creating lots of…Continue reading on Medium »

  • 10 Passive Income Ideas: Making Money While You Sleep
    by Claudiu (Passive Income on Medium) on June 26, 2022 at 6:41 am

    If you’re a savvy investor, business owner, skilled worker, or otherwise smart human being and you’re looking for ways to make more money…Continue reading on Medium »

  • 9 Passive Income Ideas: How I Make $11,000/Week
    by Claudiu (Passive Income on Medium) on June 26, 2022 at 6:23 am

    There are many ways to make money, but only one way to make money without giving up your time: passive income. Passive income is when you…Continue reading on Medium »

  • lifestyle change: keep job or switch careers
    by /u/fidmeister (Financial Independence / Retire Early) on June 26, 2022 at 5:11 am

    Lifestyle decision change. Keep job or seek job change So I am having a difficult deciding on what to do between staying at my current role and attempting to stay at the same company by promotion. Or option two: attempting a change in jobs due to higher financial gain. I am currently a credit analyst that makes roughly $45K. The role is 10-7pm Mon-Fri and I like the people I work with. The only thing I do not like is the drive. It's about 37 minutes one way. It was my first job after graduating with my MBA. I went straight from my undergrad completion to grad school while bartending to pay the bills. The bartending gig payed well enough and fit my schedule, but I knew it was time to move on to a "real job" one I finished my MBA. I was hired on as a temp in September '21 and was fully hired on this February. The work is decent and manageable, but I'm not scheduled for a pay raise until next April. They stated if I started in the role for 2.5 - 3 years, I could be a good fit as a financial analyst 1 for the company. The role probably makes low 60-65K. That's assuming for any open role that opens up in the area I live in. The company is based out of Texas so I would most likely need to move there for work. It wouldn't be too far from where I live currently so that's not a big deal. I currently live with my girlfriend and have very LCOL rent. I have no car payment and no kids. However, I still feel like saving is pretty tough for the amount of income I bring in. I do want to propose to my girlfriend within the next 4-6 months. So here is my other option that I considered that's very left field: applying for a federal job as an air traffic controller or FBI special agent...Yes, I'm dead serious. I have never had a job I've always wanted to have. I'm always been a jack of all trades, master of none. My current aspirations were to eventually get into a higher level financial role making a decent salary. I think I would like to get my CMA or CPA if possible down the line, but I'm still 2-3 classes short of being qualified for the CPA. On top of that, I'd still need to pass the exams and study for a solid 8-9 months to ensure it's done well. I'm the type of person that feels that work is work no matter what you're doing. I'm a realist. I'm willing to put up with the stress of more responsibilities if that gives me much higher gains. In this case, it takes quite awhile to get through the federal hiring process as well. Both options require added schooling to progress in their line of work. The downsides are this: something I've never done before, would have to move to learn schooling for 5 or 6 months and relocate. Plus the hours would be less than satisfactory. But at that level of pay, it would seem to be worth it for a good while if I take to it. I know if have to get accepted into these academies before I start planning anything, but it doesn't hurt to plan it way ahead. So here's what I'm really wondering about.... If I receive word about getting accepted into either of the federal programs, it would be start of next year and be done around the fall of next year possibly. If I just started with my job now, I would have a year and a half experience. Would I be better off sticking to my current situation with no idea of upward progression. Or do I give the FBI role or air traffic controller job a shot. Obviously, I would give 100% and follow everything through. It's just I don't exactly know my ceilings and likely setbacks with either case. It'd be nice to hear stranger's thoughts on the Internet. I apologize for the novel and my thoughts jumping around. Writing on mobile does not exactly do me any favors. submitted by /u/fidmeister [link] [comments]

  • I will do adsense loading and increase your adsense and get x3 passive income
    by Expertpromoter (Passive Income on Medium) on June 26, 2022 at 4:54 am

    Continue reading on Medium »

  • What are the best skills to pursue to become FI as fast as possible?
    by /u/Top-Computer1773 (Financial Independence / Retire Early) on June 25, 2022 at 7:19 pm

    Give me three things you would say are the best things to improve in order to become financially independent. Skills that are highly sought after and paid well for. submitted by /u/Top-Computer1773 [link] [comments]

  • HOW TO MAKE MONEY ONLINE: 10 BEST WAYS TO EARN MONEY ONLINE.
    by Hashir Afzal (Money Making Ideas on Medium) on June 25, 2022 at 11:07 am

    First we talk what is online earning.Continue reading on Medium »

  • Daily FI discussion thread - Saturday, June 25, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 25, 2022 at 9:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • My Experience as a Freelancer vs. Full-time Job Worker
    by Maryam Awodele (Money Making Ideas on Medium) on June 25, 2022 at 2:55 am

    How it started vs. who I have becomeContinue reading on Medium »

  • Daily FI discussion thread - Friday, June 24, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 24, 2022 at 9:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Weekly FI Frugal Friday thread - June 24, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 24, 2022 at 9:00 am

    Please use this thread to discuss how amazingly cheap you are. How do you keep your costs low? How do become frugal without taking it to the extremes of frupidity? What costs have you realized could be cut from your life without pain? Use this weekly post to discuss Frugality in general. While the Rules for posting questions on the basics of personal finance/investing topics are more relaxed here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Do you want to make money online?
    by Jenny (Money Making Ideas on Medium) on June 23, 2022 at 1:13 pm

    More people are becoming interested in free internet money-making opportunities every day. They desire to leave their monotonous…Continue reading on Medium »

  • Daily FI discussion thread - Thursday, June 23, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 23, 2022 at 9:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Finding life satisfaction and passions outside of work
    by /u/WhileSerious (Financial Independence / Retire Early) on June 22, 2022 at 9:59 pm

    I currently have a ~$80-$100k job I can work hybrid, the office some and home some. The commute is also only 15 minutes. Last year, I made $150k and this year I am on track for $100k, with the possibility of higher six figure income in the coming years as we grow the business. The job is totally flexible, I work in a family business at a hedge fund doing research where my father is the PM (which I feel fortunate about, although a family biz can have pros and cons but all jobs have that), and I like that I am able to learn about managing my own capital on the side. I am considering studying for some certifications as well. We are trying to make connections with other family offices, some of whom are very wealthy, and we have the potential to grow exponentially. We also began working with a marketing group who is helping us scale the business. The downside is that the job can be a bit lonely. I wouldn't say I am passionate about the job. I am passionate about the financial stability, being able to support myself, build a nest egg, etc.. I have been told that maybe I should challenge myself more, which maybe I should?, but they aren't the ones paying my bills and I think I can challenge in other ways. I see some of my peers struggling in their very stressful careers, just trying to survive, and I don't want to minimize the benefits I am able to have or give them up without thinking it through. I occasionally get thoughts of doing other things in my career or considering other industries. I am currently 26. I feel conflicted because I don't know if I would want to sacrifice the relaxed and secure lifestyle for something more exciting or fulfilling (which may not turn out to be fulfilling). These opportunities could also include more stress, a tough commute, etc. So I think I am on track for FI if I can continue with this job for a few more years and see how much I am able to build upon my nest egg. I'm leaning towards staying at my current job, regardless of what better offers arise, so I am trying to find passions outside of work. I really enjoy fitness and exercise regularly and am able to connect with others in that way. I would love to get your thoughts here and also hear how some of you are dealing with something like this. Should I remain grateful for the current situation and find satisfaction outside of work or should I re-enter the rat race? submitted by /u/WhileSerious [link] [comments]

  • Are your mid 30's with kids as messy as mine financially?
    by /u/turtlepwr281 (Financial Independence / Retire Early) on June 22, 2022 at 3:39 pm

    I'm in the middle of it all right now. 34, two young kids. Wife is stay-at-home which is a great fit for us. I'm a structural engineer finally living in a LCOL area (Harrisburg) after successfully getting out of a HCOL area (Philly). My wife and I graduated in 2010, it was tough finding a job for both of us. I somehow got into engineering (it was tough, even with an engineering degree). My wife worked before kids, we were able to pay off our 104k in student loans by the time i was ~29. We found FI and quickly hit $0 NW around ~28. Between Student Loans, Retirement, and saving taxable assets for a house, we felt it was pick 2 out of 3 (sorry house, we'll buy one someday), so we're sitting on 2.5x my salary in investments, mostly retirement. We've slowly pieced together a meager downpayment, but after seeing what's available and at what prices we feel we need a MUCH larger warchest before buying someone else's home with 20 years of deferred maintenance. Right now we're saving 9% for retirement, ~8% to max out my HSA and putting away ~$500 a month or so in cash. Just doesn't feel like enough. I know we're in the messy middle. I know we're getting it done, but I feel like we should be further, despite making gigantic progress the last 6 years and being on track to hit my self-imposed goals at 40 and 43. Can anyone else relate? Tough to look around at the houses and cars that suggest everyone around me is pulling in $300k/yr. Am I crazy? Update 6/23 Thank you everyone for the kind words and support. Seems like we all get discouraged from time to time and need a bit of group therapy. Lots of good stories here and I wish everyone the best on their journey! submitted by /u/turtlepwr281 [link] [comments]

  • 4 Website to make $200-$500 monthly
    by Favour charles (Money Making Ideas on Medium) on June 22, 2022 at 1:01 pm

    Furthermore all that you really want to be aware: the rules, contact messages, rates, and what the experience is like An individual is…Continue reading on Medium »

  • How Much Does Spotify Pay Artists?
    by PROFIT PANTS (Money Making Ideas on Medium) on June 22, 2022 at 9:59 am

    The Swedish Streaming Music PieContinue reading on Medium »

  • Daily FI discussion thread - Wednesday, June 22, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 22, 2022 at 9:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Weekly Self-Promotion Thread - June 22, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 22, 2022 at 9:00 am

    Self-promotion (ie posting about projects/businesses that you operate and can profit from) is typically a practice that is discouraged in /r/financialindependence, and these posts are removed through moderation. This is a thread where those rules do not apply. However, please do not post referral links in this thread. Use this thread to talk about your blog, talk about your business, ask for feedback, etc. If the self-promotion starts to leak outside of this thread, we will once again return to a time where 100% of self-promotion posts are banned. Please use this space wisely. Link-only posts will be removed. Put some effort into it. submitted by /u/AutoModerator [link] [comments]

  • Make $2000/week Through Done-For-You Automated Course Affiliate Website
    by The Organic Social Co (Money Making Ideas on Medium) on June 21, 2022 at 6:08 pm

    There are many aspects to digital marketing especially when we narrowed it down to affiliate marketing.Continue reading on Medium »

  • Best and easiest way to earn money by doing nothing.
    by Lenzynos (Money Making Ideas on Medium) on June 21, 2022 at 11:40 am

    This app pays you for sharing your unused internet bandwidth.Continue reading on Medium »

  • Daily FI discussion thread - Tuesday, June 21, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 21, 2022 at 9:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Had a debate with my dad about importance of degrees.
    by /u/ea0995 (Financial Independence / Retire Early) on June 20, 2022 at 1:57 pm

    Not sure if this is the best sub to put this in. So the other day someone had seen a picture stating something like “i would never sell my degree for a million dollars” or something like that. I have a masters degree and was asked if i would ever sell my degree for that amount. My response was yes, in a heartbeat. My dad overheard and said how a degree is the more important that it puts you on a different level, etc. i basicaly said that i understand certain degrees give you a better job and more comfortable jobs and pay, but if i could use that million to invest in a few of the right properties, i could potentially be making as much if not more than what i make now and not have to work. I love my job and career but my dream is to be financially independent where even if i still work i can be like “im only here cause i like the challenge of the work but i dont need to be here once it gets boring or if my bosses are are screaming at me everyday”. My dad obviously disagreed and said how there are a bunch of people who would kill to be in my shoes, and how people see me with more respect now that i have a masters degree with a great job. We ended up just agreeing to disagree. To give some context on my dad, he grew up in a 3rd world country in one of the poorest areas of that country. He always dreamed of having a degree but because of money and opportunity he could only get a technical degree in agronomy which didnt pay alot in his country. He worked hard and came to the US in his 20s and was able to buy a few houses. So he does have the immigrant mindset of a degree can get you very far and it is everything. I dont blame him, its the mentality of alot of people in our town. Some of it to is pride as well. I think i know how the responses will be on this reddit. But whats your take on it? submitted by /u/ea0995 [link] [comments]

  • Daily FI discussion thread - Monday, June 20, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 20, 2022 at 9:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Weekly “Help Me FIRE!” thread. Post your detailed information for highly specific advice - June 20, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 20, 2022 at 9:01 am

    Need help applying broader FIRE principles to your own situation? We’re here for you! Post your detailed personal “case study” and ask as many questions as you like, or help others who’ve done the same. Not sure if your questions pertain? Post them anyway…you might be surprised. It’ll be helpful to use our suggested format. Simply copy/paste/fill in/etc. But since everybody’s situation is different, feel free to tailor your layout to your needs. -Introduce yourself -Age / Industry / Location -General goals -Target FIRE Age / Amount / Withdrawal Rate / Location -Educational background and plans -Career situation and plans -Current and future income breakdown, including one-time events -Budget breakdown -Asset breakdown, including home, cars, etc. -Debt breakdown -Health concerns -Family: current situation / future plans / special needs / elderly parents -Other info -Questions? submitted by /u/AutoModerator [link] [comments]

  • Weekly FI Monday Milestone thread - June 20, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 20, 2022 at 9:00 am

    Please use this thread to post your milestones, humblebrags and status updates which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Is moving to Europe a viable way to avoid healthcare costs in early retirement ?
    by /u/toffeepreach (Financial Independence / Retire Early) on June 19, 2022 at 1:12 pm

    I am lucky enough to possess citizenship in Portugal and have seriously considered moving there in the past, but salaries for my industry are so much lower there that I decided to stay in the US. As I start to think about an early retirement (still nowhere close, probably 10+ years away) I am wondering what would happen if I were to move to Portugal after retirement or in some sort of ⠀partial retirement working a low stress job in Portugal. Can I essentially avoid the exorbitant US healthcare costs this way? I realize I'd have to pay higher taxes in Portugal, but still might be worth it? Especially if my income is lower? How will my investments be affected if they are all in US based accounts? Thanks for any advice submitted by /u/toffeepreach [link] [comments]

  • FI Open Discussion: Sustainable Investing (ESG, SRI, Universal Ownership).
    by /u/alcesalcesalces (Financial Independence / Retire Early) on June 19, 2022 at 12:50 pm

    I have noticed that the daily discussion thread occasionally has some rich, deep discussions that are unfortunately lost to time within a day or two. I think these discussions often have many facets that would benefit from a top-level post rather than one-off daily top-level comments that meander in a range of directions. To that end, I want to experiment with a new format of top-level posts in this subreddit where we can have a rich, focused discussion on a given topic that should be easily searchable and linkable in the future. The goal is share perspectives, opinions, and resources that others can easily find and benefit from in the future. I think the best format is the one /u/therapistfi uses for asking community questions in the daily thread. A top-level comment should have a bolded question that anyone can contribute their thoughts to. The asker can provide a concise answer in their comment asking the question or can post their personal opinion as a separate sub-comment. Anyone can ask a top-level question, ideally after reviewing that it's not a duplicate. I think there is only one important ground rule: Be civil and discuss in good faith. For this topic I wanted to raise some questions related to a blanket term of Sustainable Investing. This term covers a host of jargon like SRI (socially responsible investing), ESG (environmental, social, governance), impact investing, and universal ownership. ESG funds attempt to score companies on factors related to their Environmental, Social, and Governance profiles. The goal is to their screen in (purposefully include) or screen out (not invest in) companies that do or do not meet those criteria. ESG funds often operate through at least two lenses: one makes an argument that low-ESG companies are higher risk or have uncompensated risks and are therefore bad for the portfolio; the other makes an argument that investors now have an option to "invest their values" by excluding companies that are counter to their values, whatever they may be. For a skeptical, but fair, take on ESG fund construction and efficacy see this short blog post. I hope others can contribute as well. An alternative framework called Universal Ownership is proposed by Ellen Quigley at University of Cambridge's Centre for the Study of Existential Risk. There's a great summary of the framework in the article "Stock-picking for humanity." The framework essentially take the opposite view of ESG. Rather than avoiding companies with global risk or poor governance, the universal owner seeks out effective ways to alter their behavior. This can take the form of voting out (or in) board members or in changing where companies actually get their money, which is in the primary market (venture capital, private equity, and bond markets). Some initial questions, please feel free to pose your own below: Do you see a benefit, financial or otherwise, in structuring your investments to align with your personal values? Do you use ESG (or similar) investment strategies? If so, is your goal related to investing your values, seeking higher return, both, or something else entirely? ESG funds vary greatly in how they emphasize their three components. Which factor, if any, among Environmental, Social, and Governance is most important to you? submitted by /u/alcesalcesalces [link] [comments]

  • Daily FI discussion thread - Sunday, June 19, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 19, 2022 at 9:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • What is Substack? is it better than Medium?
    by Business Hive (Money Making Ideas on Medium) on June 19, 2022 at 7:55 am

    You don’t know what should you go with, either Substack or Medium.Continue reading on Medium »

  • FI/RE Principles are a Great Exit Strategy Hedge Against Start-Up/Small Business Risks
    by /u/Istrebityel (Financial Independence / Retire Early) on June 19, 2022 at 4:55 am

    Age 28, I've always been pretty decent about saving/Dave Ramsey principles but only caught on to the FIRE "movement" in the last 3 months. I was laid off from my full-time career at age 24 and decided to go full-time with my start-up (a technology education company/developer bootcamp). We've now been in business 4 years and gross ~$650K/year (with potential for growth). Last year, I took ~$110K from the business in salary and profits. I was going to do the same this year (reinvesting most of the remaining profit)... but FIRE has changed things. Like seemingly all business owners, whenever asked about my "Exit Strategy", I was taught to think in terms of the following 3 options: Get acquired (not super likely in my particular niche) Train my staff up to the point that they can run it without me so that I can fade into the background (literally every business owner I've ever talked to wants this — it happens... seemingly very rarely. Theoretically my staff could take over, but it would take many many years and a lot of lucky breaks) Build up a business model and products that make tons of passive revenue (i.e. SaaS, selling courses, etc. ) and then slowly just let that passive revenue take over. This is the one that all the gurus push on constantly (I've had like 8 business coaches tell me to do this) As I've learned more about FIRE, I'm BLOWN AWAY that none of my business coaches (who aren't idiots and whom I generally respect) have brought FIRE investing principles up as the secret, backdoor, most reliable backup exit strategy. Think of it this way: If I can prune my business enough (sacrificing some of the growth opportunities that come from re-investing $$$ into the business) to eke an extra ~$50K/year in profits, and then throw that $50K into tax-advantaged index accounts (i.e. maxing 401(k) + IRAs + HSAs)... then I can potentially have my cake and eat it too. In this hypothetical world, Options 1, 2, and 3 are still totally on the table — my business can STILL succeed and one day lead to a huge cash-out or reliable passive income. One might argue "But what if that $50K that you aren't re-investing is the key to your growth, and without that re-investment, your business slowly tanks?". My answer? Yeah, that's a risk... but $50K is only 1/13th of our total annual run rate. It seems more likely that we'll just adapt to be a little more frugal, a little less "moon-shot", and a little more efficient. And the REAL risk is: what if I re-invest the $50K back into the business, but due to other factors, my business slowly tanks and I never see Options 1, 2, or 3 materialize, and I'm left with nothing? Investing that $50K into index funds feels like this perfect happy medium. I still get to be a high-wire start-up owner with big upside potential, but if it all comes crashing down (or, more likely, remains somewhat steady but never really takes off), I'll have a chunk of change in my index funds as a "parachute" that validates all of the hard work that I put into the business over many years. Is this logic sound? Am I crazy? Why did none of my business coaches tell me about this????? edit: added a bit about how much I take out in profits edit 2: wanted to add a link to the book "Profit First", which provides much of the reasoning behind the "I would probably be ok if I just took an extra $50K from my business" thinking (i.e. his basic premise is "You're probably fine to take more money out of your business, because the more and more you re-invest the lower your ROI on your re-investments" https://profitfirstbook.com) submitted by /u/Istrebityel [link] [comments]

  • Daily FI discussion thread - Saturday, June 18, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 18, 2022 at 9:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Re phase - what happens to your motivation?
    by /u/theusernamename (Financial Independence / Retire Early) on June 17, 2022 at 11:27 pm

    Hi everyone, I have some questions about the psychological impact of hitting your fi number when it comes to choosing how to spend your time. To the folks who have hit fi and decided to transition into working something you enjoy rather than quitting work altogether, how is your motivation for your current job/business? Did you always think you were going to continue to work in some capacity after hitting fi, or did you quit work and realise you missed it? With the benefit of hindsight, would you have been prepared to delay hitting fi in order to have an enjoyable career after you do? Background - I'm at the stage where all being well, fire is a few years away if I continue to work full-time in my current role, which is fully client facing. I do it well, but it's not really me. I'd be much happier doing my current role a couple of days a week, and something less client-facing for the rest of the time This is a role I can carve out for myself, but it would involve significant sacrifice in terms of time and money investment, and would certainly delay my fi date by a good few years I'm currently weighing up whether to delay my fi and look to set myself up with a job that I would continue to do even after I no longer need the money, or just grin and bear my current role for a few more years and work it out when I get to fi On the one hand, I don't feel ready to quit work and don't think I will be for a good few years, but on the other hand I worry that if I hit fi, i'll no longer have the drive needed to put the hard work in to carve an enjoyable niche for myself in a very competitive field I appreciate it's going to be a very personal decision, but I'd love to hear from people who've been there and done it, and can offer some insight into what happens psychologically when you finally got that elusive fi number TIA Tldr - people who have kept working after fire in something you enjoy, how worth it is it to make sacrifices to get into something you enjoy? submitted by /u/theusernamename [link] [comments]

  • People who are **IN** RE, how are you doing with the current beatdown in the financial markets
    by /u/zackenrollertaway (Financial Independence / Retire Early) on June 17, 2022 at 3:24 pm

    7 months ago, I posted https://old.reddit.com/r/financialindependence/comments/qm4aws/preparing_for_the_inevitable/ "FIREd 3 years ago at $1.3M....Sitting today at $1.7M....at some point in the future there will be a year (or 2 years of 3 years) when I finish the year with LESS money than I started with." In a "wow who could have seen THAT coming" way, I am at $1.5M this morning. I am doing ok with that. I am comforted by the fact that my current portfolio (60% stocks, 30% bonds, 10% cash) spins off around $40k per year in dividends and interest. So I do not need to sell at a loss to maintain my income level. That together with my $20K pension provides an amount adequate to my needs. If you are IN RE, how are you doing with our current down market? submitted by /u/zackenrollertaway [link] [comments]

  • 10 Easy Fiverr Gigs to Make Money
    by Amanda Chibar (Money Making Ideas on Medium) on June 17, 2022 at 10:02 am

    Anyone can do these from the comfort of your home.Continue reading on Medium »

  • Daily FI discussion thread - Friday, June 17, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 17, 2022 at 9:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Weekly FI Frugal Friday thread - June 17, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 17, 2022 at 9:00 am

    Please use this thread to discuss how amazingly cheap you are. How do you keep your costs low? How do become frugal without taking it to the extremes of frupidity? What costs have you realized could be cut from your life without pain? Use this weekly post to discuss Frugality in general. While the Rules for posting questions on the basics of personal finance/investing topics are more relaxed here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Eight years after 100k [Update #8]
    by /u/LesWes (Financial Independence / Retire Early) on June 16, 2022 at 1:16 pm

    This is my eighth yearly update on my FIRE journey after reaching 100k 7 years ago. You can read the previous posts below: Eight years ago: I hit 100k of invested assets Seven years ago: I posted my first update Six years ago: I posted another update Five years ago: I posted another update Four years ago: I posted another update Three years ago: I posted another update Two years ago: I posted another update Last year: I posted another update ------This Year's Stats----- 38, Married, childfree Mint Snapshot and Net Worth History Total Assets = $1,480,017.08 Total Debts = $437,842.09 Total Net Worth = $1,042,174.99 FI Goal = $1.1M + a paid off mortgage. Debts = 353k mortgage at 2.500%, monthly expenses on credit cards paid in full monthly. Income = My Income (~190k/yr) + SO's income (~230k/yr) + Startup (~20k/yr). Expenses = Average $9.1k/month over the last 12 months. There are a lot of 1-off expenses though. Without those the average is $5.9k/month. 1-Off expenses are: Recreational vehicle damage (cracked a spacer during a track session) $2k 3 Vacations (including the entire month of Sept) $16k Buying a pet + pet equipment $4.5k Federal tax payment $8k Post-Airbnb Livingroom furniture $6k ​ -----Other Details----- The last year has been tough personally. It's not really on topic for this community, but I'd give it a 3/10, would not recommend. I think we had an easier than average time over 2020 being remote workers and owning a home. Now I think the postponed stress and anxiety that was mostly borne by essential workers in 2020, is coming home to roost for us. It feels like work and the administration of life is ramping back up to "normal", but socializing and self-care has gotten much more difficult. The startup was profitable last year, but not enough to warrant continued full-time effort. For most of the last year, I was the only full-time worker and starting around 6 months ago, I was putting in less than 10 hrs/week. Given that it was still profitable and keeping clients on very little time, I decided to Benjamin Button it into a side-gig. It was a surprisingly difficult mental exercise to feel OK with this, but I'm glad I did it because it was very lonely working alone. Consequently, I decided to go ahead and get a job again. It felt like the fastest way to get the socializing and collaborative work that I want. It also would provide a good counterfactual to test all my new skills and philosophies. One of the justifications for the startup in the first place was that even if it failed it would be better than an MBA. So far this seems to be true. I've only been employed again for a month but so far it's been great. Around the same time, my SO made a job change as well. As happens in sales, outsized success is often followed up with outsized goals. Their last role went a bit too far and it made more sense to move on. As every other job move, they got a huge jump in base pay and variable target pay. For the second time in a decade I've adjusted my asset allocation. As interest rates go up, I was feeling like there were better vehicles for the counterbalancing the coffeehouse portfolio style. I moved 5% of my bond allocation into stablecoin lending, which is making around 7%. I'm still getting comfortable with the risk profile. Obviously, the rates can change at any time so we'll see if this remains a longterm viable split. ​ -----Asset Allocation for reference----- Bonds-----------------------22% (VBILX) Stablecoin Lending------5% (GUSD mostly) S&P 500--------------------13% (VFIAX) Small Cap US-------------13% (VSIAX) Emerging Mrkt----------12% (VEMAX) REIT--------------------------12% (VGSLX) Global Capital Cycles--10% (VGPMX) International Large----13% (VTIAX) ​ GLTA! submitted by /u/LesWes [link] [comments]

  • Daily FI discussion thread - Thursday, June 16, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 16, 2022 at 9:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Daily FI discussion thread - Wednesday, June 15, 2022
    by /u/AutoModerator (Financial Independence / Retire Early) on June 15, 2022 at 9:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]


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